EWA
Short

Triangle Completed

FX:GBPUSD   British Pound/U.S. Dollar
77 11 3
Triangle Completed at 4th Wave Correction
actually I do not see a clear wave E here.. this type of triangle suggests more to be a reversal type than downtrending
+1 Reply
EWA c0les0
https://www.facebook.com/photo.php?fbid=1400966903527322&set=a.1380959222194757.1073741828.100008420770602&type=1&theater
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this kind of triangles needs to be counted like 5-3-5-3-5 internally, dude :) not like A-B
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Olu c0les0
can you put up a chart showing this count please
+1 Reply
EWA c0les0
Dude :) I need your reading glass to see 5-3-5-3-5 structure here... Can you show me the count you mentioned above.
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I have been looking for a way to characterize the choppy move you shaded. I tried a series of wxys but it did not fit. This is a possible analysis. If it is correct it should collapse in a 5 wave move down to end below the start of the structure at least. The D area seems a little off but on the whole it is a good explanation. Another thing is how does a cal for a downmove compare with other currencies? I am still bullish the dollar index so that is supportive. Audusd broke down today - that is supportive.
+1 Reply
EWA Olu
Exactly I was doing the same. I tried WXYZ too, Then I saw the triple tops. AUD/USD lil Scary be careful, This week Aussie pair moving against EUR/USD. I have found one more triangle at USD/JPY pair. Good Luck!
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Olu EWA
Massive upmove seen today. Triangle idea was negated. I managed to escape unscathed
snapshot
+1 Reply
EWA Olu
This could be a possible reversal zone, RSI showing over bought But I don't See any divergence so I am going short below 1.5727 area.
snapshot
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EWA EWA
snapshot
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EWA EWA
Chart looks weird here. Here is my updated view for this pair https://www.facebook.com/photo.php?fbid=1401580563465956&set=a.1380959222194757.1073741828.100008420770602&type=1&theater
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